At a recent NAIOP Chicago event, the topic wasn’t real estate; it was labor. February saw the highest monthly level of job creation since mid-2016 and unemployment sits at just 4.1 percent as skilled talent becomes increasingly difficult to recruit and retain.
“Job growth continues rapidly even with talent shortages and employment occurring faster than the labor force can expand,” said JLL Managing Director Keith Stauber, moderator. “These trends also mirror consumer confidence, which has been at its highest levels since 2000.”
Greater competition for labor has pushed occupiers to look at long-term workforce productivity and sustainability (including metrics like net migration and population growth) rather than short term affordability.
The NAIOP panel of experts featured JLL International Director Meredith O’Connor, Co-Chairman of JLL’s Headquarters Practice Group and a Business and Economic Incentives lead. Her top 10 takeaways:… Read More